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Udaan (e-commerce unicorn) talks to raise $150-200 million from existing investors.

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4 years ago

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In 2018, Udaan became the fastest Indian startup to achieve unicorn status. Udaan managed to make a strong recovery from the impact of the COVID-19 pandemic which had affected almost 60 percent of its business during the lockdown.

E-commerce unicorn Udaan is in talks to raise $150-200 million from existing investors Altimeter Capital, Citi Ventures, DST Global, Footpath Ventures, GGV Capital, Hillhouse Capital, Lightspeed Venture Partners, and Tencent.

This comes as the company managed to make strong recovery from impact of the coronavirus pandemic which had affected almost 60 percent of its business during the lockdown, Business Standard reported.

“Udaan’s business has recovered, and it is now in the process of raising fresh funds,” an industry source told the paper.

The current situation has pushed demand for e-commerce and the company’s food business alone has transaction volumes of 8,000 tonnes per day.

In 2018, the 30-year-old company became the fastest Indian startup to achieve unicorn status, and after a $585 million funding round in 2019 Udaan is valued at $2.8 billion.

A business-to-business (B2B) online platform and a non-banking financial company (NBFC), Udaan supplies 500,000 products across categories (groceries, smartphones, FMCG, and apparel, etc.) to 25,000 sellers on the platform.

The company has achieved $2 billion of gross annualized sales and invests over $10 million a month on building its network, which has over 1.5 million retailers across 900 cities and towns.

It competes with sector giants such as Amazon and Walmart (US), Alibaba (China) and Reliance Industries, which are looking at aggressive expansion in the Indian market.

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Apple is giving a huge discount on its gadgets: Details inside

Published

3 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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